Bank Profits Are Up. But More Banks Have Problems. : Planet Money Banks' profits are up, but there are more banks on the FDIC's "problem" list.
NPR logo Bank Profits Are Up. But More Banks Have Problems.

Bank Profits Are Up. But More Banks Have Problems.

The FDIC put out its latest quarterly update today. A couple striking facts:

There are 829 "problem banks" in the U.S., the most since 1993, according to the FDIC. (They don't say which banks are on the list.) Forty-five insured institutions failed between April and June.

American banks made $21.6 billion in profits in the second quarter this year — the most since late 2007, and way up from losses of $4.4 billion a year ago.

The dollar amount of overdue loans fell for the first time since early 2006. (The decline was really small — 0.6 percent. But still.)

An inside look: Last year, Planet Money’s Chana Joffe-Walt told the story of what happens when the FDIC takes over a failed bank. Earlier this year, we revisited the bank, the FDIC guy, and the bank workers a year after the closing.